PowerBank Advances 3.1 MW Hybrid Solar and BESS project on a Closed Landfill in NY Accessibility StatementSkip Navigation388 Homes Expected to be Powered by the Community Solar ProjectTORONTO, March 24, 2026 /PRNewswire/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to announce an update on the development of the NY-South Park project (the "Project"), located on a ...

Core Insights - PowerBank Corporation has announced the spring mobilization of 9 solar and battery storage projects in New York State, totaling a combined capacity of 42.24 MW for solar generation and 21.76 MWh for battery storage [1][2][4]. Project Details - The projects include various types of solar installations such as rooftop, carport, and ground-mounted systems, with an expected energy output sufficient to power approximately 5,280 homes annually [2][3]. - Several projects will operate as community solar initiatives, allowing local residents to benefit from solar energy without needing to install panels on their properties [3]. Strategic Positioning - PowerBank has a proven track record with over 100 MW of completed projects and a development pipeline exceeding 1 GW, which enhances its capability to execute these projects effectively [4]. - The company is positioned to contribute significantly to New York's Climate Leadership and Community Protection Act goal of achieving 6 GW of solar capacity by 2025, with New York accounting for nearly one-third of the U.S. installed solar capacity [5].

Core Insights - PowerBank Corporation has been approved for $1,965,579 USD in incentives for its Jordan Rd 1 solar project under the NYSERDA's NY-Sun Program, with potential additional incentives of $1,576,520 USD through the Inclusive Community Solar Adder [1] - The Jordan Rd 1 project, located on brownfield lands in Skaneateles Falls, New York, is expected to power approximately 875 homes annually once operational [1] - The project aligns with New York's goal of achieving 10 GW of solar capacity by 2030 and supports local job creation while advancing clean energy objectives [1] Financial Incentives - The NY-Sun Program is a public-private partnership aimed at expanding solar adoption and making solar technology more affordable for New Yorkers [1] - The project has received municipal and environmental approvals necessary for operation [1] Project Details - The Jordan Rd 1 project will operate as a community solar project, allowing homeowners to benefit from solar energy without installing panels on their properties [1] - PowerBank has a proven track record with over 100 MW of completed projects and a development pipeline exceeding 1 GW, positioning the company for successful project execution [1] Industry Context - New York leads the U.S. in community solar capacity and has already achieved its 6 GW solar goal set by the New York State Climate Act [1] - The project contributes to the state's clean energy goals and enhances the local power grid by feeding clean energy directly into it [1]

Core Insights - GrandBridge Corporation and PowerBank Corporation have entered into a co-development agreement to jointly develop solar energy and battery storage projects in Ontario, focusing on enhancing local energy solutions and grid reliability [1] Group 1: Agreement Details - The agreement outlines that PowerBank will lead project development and construction, while GrandBridge will provide capital and co-own the projects [1] - The projects will target a nameplate capacity of 2 MWac or greater and will be submitted under the Independent Electricity System Operator (IESO) Request for Proposals [1] - The ownership structure is set at 80% for GrandBridge and 20% for PowerBank upon financial close, with potential adjustments if First Nation partners are involved [1] Group 2: Strategic Goals - The partnership aims to address the growing energy consumption and peak demand in Southwest Ontario, driven by electrification and community growth [1] - Both companies are committed to developing solutions that alleviate grid congestion and enhance the performance and reliability of the electricity grid [1] - PowerBank has a history of developing over 100 megawatts of renewable energy projects across North America, which will be leveraged in this partnership [1] Group 3: Market Context - The collaboration is positioned to respond to the evolving energy needs of Ontario, with a focus on clean and reliable energy solutions [1] - The agreement includes exploring alternative commercialization opportunities such as Virtual Power Purchase Agreements (VPPAs) and Net Metering [1] - The partnership reflects a strategic alignment between GrandBridge's local expertise and PowerBank's renewable energy development capabilities [1]

Core Insights - PowerBank Corporation has been approved for up to $309,720 USD in incentives for its 2.6 MW Elmira Solar Power Project under the NYSERDA's NY-Sun Program [1] - The project could potentially receive an additional $545,107 USD through the Inclusive Community Solar Adder (ICSA) stream of the NY-Sun program [1] - The Elmira Project is expected to power approximately 325 homes annually and will operate as a community solar project [1] Company Overview - PowerBank Corporation is a leader in distributed solar energy, battery storage, and clean energy infrastructure across North America [1] - The company has completed over 100 MW of projects and has a development pipeline exceeding 1 GW [1] - PowerBank focuses on developing solar and Battery Energy Storage System (BESS) projects that sell electricity to various off-takers [1] Industry Context - The NY-Sun Program aims to drive growth in the solar industry and make solar technology more affordable for New Yorkers [1] - New York State leads the U.S. in community solar capacity and has achieved a 6 GW solar goal as part of the New York State Climate Act [1] - The Elmira Project contributes to New York's target of reaching 10 GW of solar capacity by 2030 [1]

Core Insights - PowerBank Corporation has transitioned from a solar-focused developer to a comprehensive renewable energy and digital infrastructure company, reflecting its commitment to safe, reliable, and clean energy sources across North America and innovative space-based computing infrastructure [1][2] Corporate Transformation and IPP Strategy - The company changed its name from SolarBank Corporation to PowerBank Corporation in July 2025, indicating its broader focus beyond solar energy [1] - In fiscal year 2025, revenues from owned and operated assets surged by 1,508% to $9.3 million from $0.6 million in fiscal year 2024, demonstrating the success of its Independent Power Producer (IPP) strategy [1] - Total assets increased by 253%, driven by the expansion of the IPP portfolio following the acquisition of Solar Flow-Through Funds Ltd [1] Project Development and Portfolio Expansion - PowerBank secured equipment procurement agreements for 15 distributed solar and energy storage projects in New York State, totaling approximately 67 MW DC of solar generation and 11 MWh of battery storage capacity [1] - These projects are expected to provide clean energy for about 7,500 homes and have a construction value of $168 million, while also preserving eligibility for federal Investment Tax Credits valued at $65 million [1] - The company has advanced multiple community solar and hybrid solar-plus-storage projects, contributing to New York's Climate Leadership and Community Protection Act goals [1] Market Leadership and Strategic Positioning - PowerBank holds a significant market share in Nova Scotia's Community Solar Program, which aims to add 100 MW of solar generation to support the province's renewable energy commitments [1] - The company has a development pipeline exceeding 1 GW across key North American markets, with over 100 MW of completed projects [1] - PowerBank is targeting opportunities in the data center power supply market, projected to reach $585 billion by 2030, aligning with its capabilities in renewable energy and space-based computing [1] Financial Developments - PowerBank secured an $8 million USD revolving credit facility with NY Green Bank to fund interconnection deposits for a portfolio of distributed solar power and battery energy storage projects [1] - The company announced a transaction valued at approximately $41 million USD for the sale of solar power projects to Solar Advocate Development LLC, which has since been terminated due to the exercise of sell-back rights [2] Space-Based Computing Infrastructure - PowerBank collaborated with Smartlink AI to support solar-powered satellite infrastructure for AI computing in low-Earth orbit, positioning the company at the intersection of renewable energy, AI, and space infrastructure [1][2] - The Genesis-1 satellite, launched in December 2025, is operational and running AI workloads powered by solar energy, validating the feasibility of deploying AI in space [2]

Core Insights - PowerBank Corporation reported a fiscal second quarter 2026 revenue of $22.3 million, a 16.5% increase from $19.2 million in the same period of FY2025, with a gross margin of 36% compared to 30% in FY2025 [1][2] - The company achieved a net loss of $6.7 million, significantly improved from a net loss of $28.2 million in the same period of FY2025, resulting in a basic loss per share of $(0.18) compared to $(0.91) [1][2] - PowerBank's cash flow from operating activities turned positive with an inflow of $5.0 million, contrasting with an outflow of $1.1 million in the same period of FY2025 [1][2] Financial Highlights - Total revenue for the six-month period ended December 31, 2025, was $22.3 million, up from $19.2 million in the same period of FY2025 [2] - Adjusted EBITDA for the same period was $2.5 million, slightly up from $2.3 million in FY2025 [1][2] - The company ended the second quarter with $35.7 million in current assets, down from $41.3 million at the end of FY2025, primarily due to a reduction in trade receivables [2] Corporate Developments - PowerBank advanced the construction of a 4.99 MW Battery Energy Storage System project in Ontario, expected to reach commercial operation in February 2026 [1] - The company secured a 20 MW solar and Battery Energy Storage System power purchase agreement with the New York State Division of Military and Naval Affairs [1] - PowerBank announced a $41 million transaction with Solar Advocate Development LLC for the sale and construction of three community solar projects totaling 16.87 MW [1][2] Strategic Initiatives - The company is focusing on growing its Independent Power Producer asset base for long-term recurring revenues while selectively monetizing development projects [1] - PowerBank has a development pipeline exceeding 1 GW and has developed renewable energy projects with a combined capacity of over 100 MW [3] - The company is collaborating with Orbit AI to launch the "Orbital Cloud" initiative, integrating AI and solar energy in space-based infrastructure [1][2]

Exhibit 99.1 POWERBANK CORPORATION (FORMERLY SOLARBANK CORPORATION) Management's Discussion and Analysis For the Three and Six Months Ended December 31, 2025 Contact Information : PowerBank Corporation 505 Consumers Road, Suite 803 Toronto, ON M2J 4V8 Contact Person: Mr. Sam Sun, CFO Email: info@powerbankcorp.com Management's Discussion and Analysis MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This Management's Discussion and Analysis ("MD&A") comments on the financi ...

Core Insights - PowerBank Corporation has announced a strategic investment of US$500,000 in Orbit AI, following the successful launch of the "Genesis" satellite mission, marking a significant step in the collaboration between the two companies [1] - The investment aims to support Orbit AI's transition from a proof-of-concept to fully operational infrastructure, leveraging advanced technologies such as on-orbit blockchain validation and AI inference computing [1] - PowerBank is positioning itself as a key player in the space infrastructure market, with plans to support solar energy systems and thermal control solutions for future Orbit AI missions [1] Investment Details - PowerBank's investment of US$500,000 is part of a structured framework for future funding, allowing for an additional investment of US$500,000 within the next 12 months [1] - This investment secures an economic interest in Orbit AI's future and ensures PowerBank remains a core partner as Orbit AI progresses towards commercial deployment [1] Technological Advancements - The "Genesis" satellite has successfully completed its mission objectives, operating at an altitude of approximately 547 km and achieving a speed of 7.59 km/s, completing a full orbit every 95 minutes [1] - Key technologies utilized by the Genesis satellite include DeStarAI & DeStarlink for decentralized communication, passive radiative cooling for thermal management, and 24/7 solar autonomy for energy supply [1] Market Potential - Orbit AI is positioned at the intersection of satellite communications, AI infrastructure, and blockchain, with the global satellite market projected to reach USD$615 billion by 2032 [1] - Additional market opportunities in orbital infrastructure, in-orbit data centers, and satellite data services represent a combined potential of USD$115.64 billion over the next decade [1] Company Background - PowerBank Corporation focuses on renewable and clean energy project development, particularly in distributed and community solar projects across Canada and the USA [1] - The company has a development pipeline exceeding one gigawatt, with over 100 megawatts already built [1]

Core Insights - PowerBank Corporation has transitioned from beta testing to operational deployment of IntelliScope Enterprise Hub AI agents developed by Intellistake Technologies Corp, marking a significant step in enhancing its renewable energy project development capabilities [2][8]. Group 1: Contracts and Deployment - PowerBank signed two contracts with Intellistake Technologies on February 4, 2026, to formally onboard and deploy the IntelliScope Enterprise Hub AI agents [2][4]. - The contracts include the build and deployment of two AI agent platforms, which completed approximately three months of proof-of-concept development during a closed beta phase [4][8]. - The combined Year 1 value of the two contracted platforms is approximately CA$278,000, which includes initial implementation and subscription services [14]. Group 2: AI Platform Functionality - The IntelliScope Enterprise Hub is designed to support renewable energy project development by analyzing geospatial data, evaluating regulatory requirements, and identifying optimal site locations for solar and battery storage projects [3][12]. - A public-facing AI communications agent will be embedded within PowerBank's website, enabling structured external engagement and generating analytics reports [5][9]. - IntelliScope will serve as a bespoke internal business intelligence platform, focusing on renewable energy development in the U.S. and consolidating fragmented data sources into a single intelligence layer [6][11]. Group 3: Testing and Evaluation - During the beta testing period, PowerBank's teams evaluated the AI agents' capabilities across multiple use cases, including site assessment workflows and permitting analysis [7][8]. - The testing framework examined performance metrics, integration requirements, and operational effectiveness within PowerBank's existing technology infrastructure [7]. Group 4: Future Plans and Expansion - PowerBank plans to expand the use of the IntelliScope Enterprise Hub across additional business functions and project development stages as the AI agents' capabilities are refined [13]. - The company views AI-powered analytical tools as complementary to its existing engineering and business development expertise, enhancing data processing and decision-making [13].